The cabinet approved the sale of government’s entire 52.63 percent in power sector financier REC Ltd. to state-run peer Power Finance Corporation Ltd. as it looks to mop up funds through such a deal for the second straight year to meet its divestment target.
The power ministry is considering a proposal under which state-run REC Ltd will buy entire 65.6 per cent government stake in Power Finance Corporation (PFC) for around Rs 16,000 crore at present market value, a move would
India is considering a proposal to combine two state-run lenders to utilities, REC and Power Finance Corp, according to people familiar with the discussions, as it seeks to raise funds to bridge a budget gap.
REC, one of the largest lenders to the power sector, is planning to raise $1 billion through a bond sale to US-based investors, a first for the state-run company that has so far tapped investors in Europe and Asia.
State-run Rural Electrification Corporation (REC) has sought its shareholders approval to raise its overall borrowing limit to Rs 3.5 lakh crore from existing Rs 2 lakh crore.
State-run Rural Electrification Corp (REC) today said it has transferred the entire shareholding of its wholly-owned subsidiary to Power Grid Corporation of India following approval from the Power Ministry.
State-owned infrastructure financecompany in the power sector – Rural ElectrificationCorporation (REC) – today announced it has raised $300 million through Dollar bonds that are bought and sold outside of the United States.
Renewable Energy Certificates (RECs) have been in existence in India since 2011 to enable compliance of Renewable Purchase Obligations (RPOs).
The Union government’s ambitious plan to complete rural electrification by May 1, 2018 is set to be achieved before target with the rural electrification corporation of India (REC) in the last leg of the scheme, informed Dr P.V.Ramesh, chairman and managing director, REC Limited.
Susanta Kumar Roy has been appointed as Director (Projects), NTPC with effect from 19th January, 2018. Prior to this, Roy held the post of Executive Director(Projects), NTPC Roy is a Mechanical Engineering Graduate from REC, Durgapur and joined NTPC in 1981 as Executive Trainee.